Category Archives: Taxes

Four Facts About S-Corporation Distributions

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Your LLC is up and running. You’ve figured out the benefits to being taxed as an S-corporation and have placed yourself on the payroll. Not to be unreasonable, you took steps to make sure your salary would be acceptable to the IRS should they choose to review it. Now that your company is profitable, how do you get that profit into your pocket without creating tax headaches?Here are four facts you need to know about distributions from an S-corporation. 1. &nb […]

What is Use Tax Anyway?

Learning about taxes your business needs to pay is exhausting.  From the employer’s portion of FICA, federal unemployment, state unemployment, sales tax as well as the other requirements parallel to taxes like annual filing fees, licenses and workman’s compensation, owners’ eyes glaze over as they weigh the complexities and time requirements of tax compliance.​When you look at these taxes in the aggregate, they act like opportunistic mosquitos slowly pricking […]

Are Meals Still Deductible?

It’s a beautiful day.  The birds are chirping, the sun is shining and you are meeting a client at a restaurant. Not just any restaurant, mind you, but a nice one. This one has high ratings, exceptional service and four “$”s next to it on Yelp.Yes, its good to be in business so you can live like a king.  Getting the business to pay for your meal is genius. But then you vaguely remember the talking heads on cable television discussing a tax law cha […]